In the energy market Wednesday, oil roared higher, with crude for December delivery closing at $67.50/barrel, up $4.77. November reformulated gasoline rose 7.75 cents, to $1.533/gallon.

It turned out to be another wild day on Wall Street. The equities market managed to hang on to most of its big gains from yesterday and is now on the cusp of a bullish streak. But even better than the equities market today was the commodities sector.

The prices of oil, gold, silver, coal, cocoa, natural gas and the rest of the gang were up today thanks to some key rate cuts across the globe. China and the United States cut their short-term lending targets and it appears that Japan may follow suit.

Rate cuts mean there is an increased chance of a boost in economic activity and that means commodities traders have a reason to increase prices.

Crude prices surged by…

In the energy market Thursday, oil moved a bit higher, with crude for December delivery closing at $67.84/barrel, up $1.09. November reformulated gasoline rose three-quarters of a cent, to $1.5778/gallon.

In the energy market Thursday, crude for July delivery plummeted, closing at $131.93/barrel, down $4.75. July reformulated gasoline plunged 11.4 cents, to $3.3526/gallon.

In the energy market Friday, crude for July delivery pulled back, closing at $134.86/barrel, down $1.88. July reformulated gasoline fell 6.74 cents, to $3.4626/gallon.

In the energy market Wednesday, crude for July delivery skied higher, to close at $136.38/barrel, up $5.07. July reformulated gasoline shot up 15 cents, to $3.47/gallon.

In the energy market Thursday, crude for July delivery headed for the moon, rocketing heavenward to close at a record $138.54/barrel, up $10.75. July reformulated gasoline shot 21.8 cents higher, to $3.548/gallon, marking a two-day gain of nearly 11%.

In the energy market Thursday, crude for July delivery recovered its recent losses, closing at its highest level in a week, at $127.79/barrel, up $5.49, or 4.5%. July reformulated gasoline rocketed 13.45 cents higher, to $3.3345/gallon.

In the energy market Wednesday, crude for July delivery retreated again, closing at its lowest level in a month, $122.30/barrel, down $2.01. July reformulated gasoline plummeted 15 cents, or 4.5%, to $3.20/gallon.

In the energy market Tuesday, crude for July delivery collapsed, closing at $124.31/barrel, down $3.45. July reformulated gasoline fell 3.75 cents, to $3.3525/gallon.